BIP Wealth LLC Purchases Shares of 31,963 Southern Company (The) $SO

BIP Wealth LLC purchased a new position in shares of Southern Company (The) (NYSE:SO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 31,963 shares of the utilities provider's stock, valued at approximately $3,059,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Evergreen Advisors LLC bought a new position in Southern during the 1st quarter valued at approximately $25,000. Scarborough Advisors LLC bought a new stake in shares of Southern in the 1st quarter worth approximately $25,000. Ankerstar Wealth LLC bought a new stake in shares of Southern in the 4th quarter worth approximately $25,000. Triumph Capital Management purchased a new position in shares of Southern during the third quarter valued at approximately $29,000. Finally, Cornerstone Financial Management LLC purchased a new position in shares of Southern during the fourth quarter valued at approximately $27,000. Institutional investors own 64.10% of the company's stock.

Southern Stock Up 0.0%

Shares of SO stock opened at $92.83 on Friday. The company's fifty day simple moving average is $94.69 and its two-hundred day simple moving average is $94.31. Southern Company has a 52 week low of $83.80 and a 52 week high of $100.83. The stock has a market cap of $106.79 billion, a P/E ratio of 22.26, a PEG ratio of 1.78 and a beta of 0.34. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62.

Southern (NYSE:SO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.12. Southern had a net margin of 15.43% and a return on equity of 12.93%. The firm had revenue of $6.98 billion during the quarter, compared to the consensus estimate of $7.23 billion. During the same quarter last year, the firm earned $0.79 EPS. The firm's revenue for the quarter was up .1% compared to the same quarter last year. Analysts predict that Southern Company will post 4.58 EPS for the current fiscal year.

Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be given a dividend of $0.76 per share. The ex-dividend date is Monday, August 17th. This represents a $3.04 dividend on an annualized basis and a yield of 3.3%. Southern's payout ratio is 72.90%.

Analysts Set New Price Targets

SO has been the topic of several recent analyst reports. Barclays cut their price target on shares of Southern from $99.00 to $98.00 and set an "equal weight" rating on the stock in a report on Thursday, June 18th. JPMorgan Chase & Co. lifted their price target on shares of Southern from $101.00 to $104.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. BMO Capital Markets boosted their target price on Southern from $102.00 to $104.00 and gave the stock an "outperform" rating in a report on Monday, July 27th. Wall Street Zen lowered shares of Southern from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Morgan Stanley reaffirmed an "underweight" rating on shares of Southern in a report on Wednesday, July 22nd. Seven equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $100.09.

Southern Company Profile

Southern Company NYSE: SO is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern's principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.

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